|  | 06/12/2004 |
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Copper and zinc is bought off in succession
International nonferrous metal market of 2004 appreciated more than other materials, but lead and zinc that recovery of market is delayed are bought by many junior miners.BHP Billiton agreed to buy off 33.6% right of Highland Valley copper mine and 100% of Robinson copper mine to Quadra Mining at $91 million. On the other hand, Pasminco, major lead and zinc company, was suggested by Ontzinc at A$ 1.7 billion.
Pasminco rejected a buyout offer from Ontzinc. Though Pasminco was failed company caused by downturn of zinc market and failure of exchange hedge, the firm makes a desperate struggle to restore and it is seeking to list again.
Ontzinc that a buyout offer at a$ 1.7 billion was refused by Pasminco, tries to suggest again with lower price. So, it could be the joint submission with third parties.
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 | Copper and zinc is bought off in succession
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